EPF - self contribution, need advise
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 Jan 4 2020, 12:18 PM
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#1
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Junior Member
307 posts Joined: Apr 2005 
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Sorry for asking dumb question but say now out of desperation I need to withdraw 50k from acc2 for Renovation can i Put back 50k into acc2 after selling off my car , bcos I need to start Reno but my car still not yet have buyer don't want sell to car dealer cheap
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Jan 4 2020, 12:42 PM
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#2
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Junior Member
307 posts Joined: Apr 2005
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QUOTE(MUM @ Jan 4 2020, 12:24 PM) according to this site.... Ya but can withdraw under other purpose , but end up is my life savings that why I want to put back , and for high interest dividend"......you cannot withdraw EPF funds for house renovation - it isn't listed in the types of withdrawals." https://ringgitplus.com/en/blog/Duit-The-Ea...ithdrawals.html  |
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Jan 4 2020, 12:44 PM
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#3
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Junior Member
307 posts Joined: Apr 2005
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QUOTE(cute_boboi @ Jan 4 2020, 12:26 PM) Theoretically, short answer, yes. Oh thanks for the clarification and answer that's what I'm looking for haha , 70/30 means If I take 100k fr acc2 put back future only left back 30k in acc2 rightLong answer, provided you meet all the requirements/eligibility/etc. You can withdraw 50k from account 2, there is a formula to calculate maximum withdrawal. But when you put back 50k, as self-contribution, it will split 70/30 into account 1 and 2. At the end of day/year/55/life, the annual dividend % calculation is still the same whether is account 1 or 2. But it will affect future account 2 withdrawal.  |
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Jan 4 2020, 12:59 PM
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#4
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Junior Member
307 posts Joined: Apr 2005
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QUOTE(MUM @ Jan 4 2020, 12:48 PM) will the withdrawal under other purpose is faster between selling your car and the withdrawal process as the timing of your plan to renovate is a priority.? Don't know just thinking as an option or backup if really cannot raise fund from else whereif withdrawal is faster, then it is as per forummer Cute_boboi's post....above |
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